Ruiming Gu collaborated with the Financial Intelligence Unit (FIU) of the Republic of Palau to establish a Register Entity Database and incorporate risk assessment capabilities.
During the project with the Financial Intelligence Unit, student consultant Ruiming Gu played a pivotal role in developing a Register Entity Database to enhance the FIU's capacity for managing entity registrations and compliance with international standards. This database, built on Microsoft Access, allows the FIU to efficiently track and analyze financial institutions and designated non-financial businesses. Additionally, Ruiming designed a Google Form to streamline the registration process and facilitate data entry. The project also focused on incorporating risk assessments for registered entities, with assistance from the International Monetary Fund (IMF) to create a risk matrix. By improving data management and compliance capabilities, Ruiming’s work strengthens the FIU's mission to combat money laundering and terrorist financing, thereby promoting a safer financial environment in Palau.